Decorative Paints Form Major Chunk of India Paint Market, Claims Kuick Research05 Jun 2013 • by Natalie Aster
Decorative paints form the major chunk of the market; this is also the fastest growing segment that has bucked the growth slowdown seen in other industries and segments. Its demand picked up following the acceleration in economic growth since 2002 which saw a rise in income level, leading to increased demand for housing in India which was also spurred by increasing urbanization and nuclear family setups. Decorative paints segment has grown in direct correlation with the country’s GDP growth.
Homes, offices, buildings, architectural applications and other display areas such as hoardings, and banners are the key use areas for decorative paints. According to the report “India Paint Industry Opportunity Analysis 2018” by Kuick Research, this segment sees fluctuating, seasonal or erratic demand. Now the trend is moving slowly towards a situation where we see all year round usage where customers do not wait for any occasion. It is used across all types of needs and situations and this makes it very sensitive to price where there is adequate margin and significant volume business.
India Paint Industry Opportunity Analysis 2018
Published: May, 2013
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The decorative paint’s demand is seasonal, cyclic and erratic as it is dependent on the housing sector and good monsoons and the user industries like auto, engineering and consumer durables. The frequency of this is directly related to the disposable income and as well as the willingness to spend which is in proportion to the economic and market condition at any given time.
For painting interiors, emulsion paints are preferred more than distempers, and for exteriors emulsion-based coatings are preferred with more consumers opting for highpriced emulsions, which are more durable and offer better looking finishes in a wide range of colours. The varnish market is declining because of the preference for wall papers and laminates, and has niche areas of the market that it can expand into.
More information can be found in the report “India Paint Industry Opportunity Analysis 2018” by Kuick Research.
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